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3 years ago

Find the savings plan balance after 18 months with an APR of 6% and monthly payments of $800. Assume an ordinary annuity.

2 answers:

7 0

The formula for this calculation is Future Value = Payment • [((1 + I)n - 1)/I], where I = interest rate, and n = periods.

In this case, P = $800/month, n = 18 months, and I = 6% (0.06) per year.

Since the information involves months instead of years, it is necessary to divide the interest rate by 12 to obtain the monthly rate. So, 0.06 ÷ 12 = 0.005

We can then enter the information into our formula to obtain:

FV = $800 • [((1.005)18 - 1)/.005]

FV = $800 • [(1.0939 - 1)/.005]

FV =$800 • (0.0939/0.005)

FV = $800 • 18.785

FV ≅ $15,028

BabaBlast [244]3 years ago

7 0

$800 [((1.005)18 - 1)/.005]

$800 x [(1.0939 - 1)/.005]

$800 x (0.0939/0.005)

$800 x 18.785

~ $15,028

The savings plan is 15,028.

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I don’t understand this can someone please please help!!!!!!!!!!

AnnyKZ [126]

Answer:

172 ft 2

Step-by-step explanation:

SA=2lw+2lh+2hw, for

A=2(lw + lh + hw)=2·(7 · 2+ 8 · 2 + 8 · 7)= 172 ft 2.

Hope this helps,

Best of Luck!

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2 years ago

The area of a rectangle is 30 square feet. The base of the rectangle is 7.5

BigorU [14]

Answer:

4 ft

Step-by-step explanation:

<h3>Area of rectangle:</h3>

Area = 30 square ft

base = 7.5 ft

$\sf \boxed{height \ of \ rectangle = \dfrac{Area}{base}}$

$\sf =\dfrac{30}{7.5}\\\\=\dfrac{30*10}{7.5*10}\\\\=\dfrac{300}{75}\\\\= 4 ft$

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1 year ago

(a) Find the size of each of two samples (assume that they are of equal size) needed to estimate the difference between the prop

zalisa [80]

Answer:

(a) The sample sizes are 6787.

(b) The sample sizes are 6666.

Step-by-step explanation:

(a)

The information provided is:

Confidence level = 98%

MOE = 0.02

n₁ = n₂ = n

$\hat p_{1} = \hat p_{2} = \hat p = 0.50\ (\text{Assume})$

Compute the sample sizes as follows:

$MOE=z_{\alpha/2}\times\sqrt{\frac{2\times\hat p(1-\hat p)}{n}$

$n=\frac{2\times\hat p(1-\hat p)\times (z_{\alpha/2})^{2}}{MOE^{2}}$

$=\frac{2\times0.50(1-0.50)\times (2.33)^{2}}{0.02^{2}}\\\\=6786.125\\\\\approx 6787$

Thus, the sample sizes are 6787.

(b)

Now it is provided that:

$\hat p_{1}=0.45\\\hat p_{2}=0.58$

Compute the sample size as follows:

$MOE=z_{\alpha/2}\times\sqrt{\frac{\hat p_{1}(1-\hat p_{1})+\hat p_{2}(1-\hat p_{2})}{n}$

$n=\frac{(z_{\alpha/2})^{2}\times [\hat p_{1}(1-\hat p_{1})+\hat p_{2}(1-\hat p_{2})]}{MOE^{2}}$

$=\frac{2.33^{2}\times [0.45(1-0.45)+0.58(1-0.58)]}{0.02^{2}}\\\\=6665.331975\\\\\approx 6666$

Thus, the sample sizes are 6666.

7 0

2 years ago

The difference in the price of 2 video games is $8.25. If one video game costs $19.50, which of the answer choices could represe

rosijanka [135]

It’s either 11.25 or 27.75. Next time please show the answer choices too!

3 0

2 years ago

Read 2 more answers

Arrange these numbers in increasing order: 216,000,000, 2.2 × 10 to the 3rd power, 3.1 × 10 to the 7th power, 310,000

ziro4ka [17]

<span>216,000,000
</span><span>2.2 × 10 to the 3rd power = 2.2 * 10^3 = 2,200
</span>3.1 × 10 to the 7th power = 3.1 * 10^7 = 31,000,000
<span>310,000

Increasing order:
</span>2,200 , 310,000 , 216,000,000 , 31,000,000

So increasing order with original numbers:
2.2 × 10 to the 3rd power, 310,000, <span>216,000,000, 3.1 × 10 to the 7th power</span>

7 0

2 years ago